Arizona State Retirement System Sells 3,465 Shares of FedEx Corporation $FDX

Key Points

• Arizona State Retirement System trimmed its FedEx stake by 5.2% in Q4, selling 3,465 shares and leaving it with 62,994 shares worth about $18.2 million.
• FedEx beat quarterly expectations with EPS $5.25 vs. $4.12 and $24 billion in revenue (up 8.3% YoY), and the stock has a consensus "Moderate Buy" rating with an average target of $398.04.
• Mixed investor signals: institutional ownership is high (84.47%), but insiders have sold 48,104 shares (~$17.6M) in the past 90 days, short interest rose ~23.6%, and potential CBP tariff refund obligations could create near-term cash outflows.

Arizona State Retirement System trimmed its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,994 shares of the shipping service provider's stock after selling 3,465 shares during the quarter. Arizona State Retirement System's holdings in FedEx were worth $18,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in FedEx by 13.2% during the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider's stock worth $5,527,870,000 after buying an additional 2,741,723 shares during the period. Dodge & Cox lifted its position in shares of FedEx by 12.0% during the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider's stock worth $3,826,055,000 after purchasing an additional 1,742,666 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of FedEx by 5.9% during the third quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider's stock worth $1,135,411,000 after purchasing an additional 269,567 shares during the last quarter. Invesco Ltd. lifted its position in shares of FedEx by 3.1% during the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider's stock worth $853,372,000 after purchasing an additional 108,426 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider's stock worth $638,203,000 after purchasing an additional 1,718,278 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Recent price momentum and strong multi-period returns have attracted attention, supporting investor confidence in the stock's rally. FedEx (FDX) Valuation Check After Strong Multi Period Share Price Momentum
• Positive Sentiment: Sector strength: commentary that transport names (including FedEx) are rallying has buoyed sentiment because shipping strength is often seen as a proxy for economic resilience. When Transport Stocks Rally, Recession Risks Fade: Technicals
• Positive Sentiment: Strategic growth tie-up in Vietnam with Viettel Post may expand cross-border volumes and emerging-market exposure for FedEx. Viettel Post and FedEx Announce Strategic Partnership to Strengthen Cross-Border Logistics in Vietnam
• Negative Sentiment: Short interest rose materially in April — up ~23.6% to 3,275,799 shares (about 1.4% of shares outstanding) with a ~2.1 days-to-cover — increasing the potential for further selling pressure and volatility as shorts accumulate.
• Negative Sentiment: Valuation and macro caution: a recent analyst piece argues that stretched valuation and macro/technical risks still outweigh FedEx’s fundamentals, which can prompt profit-taking after the strong run. FedEx Corporation: Valuation, Technical, And Macro Downsides Still Outweigh Fundamental Soundness
• Negative Sentiment: Regulatory/operational headwind: carriers (including FedEx) are expected to reimburse customers via the CBP tariff refund portal, which could mean near-term cash outflows and customer-relations costs. UPS, FedEx, DHL Set to Reimburse Customers as CBP Tariff Portal Goes Live

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FDX shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $479.00 target price on shares of FedEx in a research report on Friday, February 13th. BMO Capital Markets lifted their target price on FedEx from $400.00 to $410.00 and gave the stock a "market perform" rating in a research report on Friday, March 20th. Truist Financial lifted their target price on FedEx from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Morgan Stanley lifted their target price on FedEx from $220.00 to $230.00 and gave the stock an "underweight" rating in a research report on Friday, March 20th. Finally, Stephens reiterated an "overweight" rating and set a $435.00 target price on shares of FedEx in a research report on Tuesday, April 14th. Eighteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and an average target price of $398.04.

Insider Transactions at FedEx

In related news, EVP Gina F. Adams sold 20,450 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total value of $7,493,902.50. Following the sale, the executive vice president owned 19,403 shares in the company, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kawal Preet sold 4,900 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, the executive vice president owned 10,953 shares in the company, valued at approximately $4,029,499.17. This represents a 30.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,104 shares of company stock worth $17,599,006 in the last ninety days. Corporate insiders own 0.53% of the company's stock.

FedEx Stock Performance

FDX opened at $387.83 on Friday. FedEx Corporation has a 52-week low of $204.33 and a 52-week high of $399.67. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The company has a market cap of $92.54 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 1.49 and a beta of 1.28. The firm's 50-day moving average price is $369.88 and its 200-day moving average price is $314.62.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. During the same quarter in the prior year, the company posted $4.51 earnings per share. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Corporation will post 19.72 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 9th were given a $1.45 dividend. The ex-dividend date was Monday, March 9th. This represents a $5.80 dividend on an annualized basis and a yield of 1.5%. FedEx's dividend payout ratio is currently 30.87%.

FedEx Profile

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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